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Gold (XAU/USD) tested the $3000/oz level but faces resistance, with key support at 2994, 2982, and 2950. Increased Gold ETF inflows and significant central bank buying are supporting gold prices amidst economic uncertainty. Geopolitical tensions, sluggish retail sales, and the upcoming tariff deadline are contributing to market concerns and gold’s appeal. Risk assets appear more […]

The post Gold Price Outlook: ETF Flows, Central Bank Buying, and XAU/USD Price Targets appeared first on Action Forex.

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31/07/2024

Bank of Japan Hikes Rates Further, Slows Bond Buying

Summary The Bank of Japan (BoJ) sprung a mild surprise at today’s announcement, raising its policy rate to around 0.25%, from around 0% to 0.1% previously. The BoJ also said it would reduce the pace of its bond purchases to around ¥3T per month by early 2026. The BoJ’s accompanying comments leaned hawkish in tone, […]
05/07/2024

Market Analysis: Gold and Oil Prices Soar, More Gains Ahead?

Gold price started a fresh increase above the $2,342 resistance level. Crude oil prices are gaining bullish momentum and might soon test $85.00. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started a steady increase from the $2,320 zone against the US Dollar. A connecting bullish trend line is forming with support […]
22/04/2024

Relief Before Earnings

The week starts with a relief rally in equities following a calm weekend on the geopolitical scene. The US 2-year yield pushes above 5% ahead of US GDP and PCE updates. Four of Magnificent 7 are due to report earnings this week. Oil under pressure following calm weekend US crude kicks off the week under […]